Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Short Interest Up 77.2% in December

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 59,000 shares, a growth of 77.2% from the December 15th total of 33,300 shares. Based on an average daily trading volume, of 72,100 shares, the days-to-cover ratio is presently 0.8 days.

Abrdn Australia Equity Fund Stock Down 0.2 %

Shares of NYSEAMERICAN:IAF opened at $4.36 on Friday. Abrdn Australia Equity Fund has a 1 year low of $3.95 and a 1 year high of $4.75.

Abrdn Australia Equity Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, November 21st. This is a boost from Abrdn Australia Equity Fund’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 11.93%.

Institutional Investors Weigh In On Abrdn Australia Equity Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC lifted its stake in shares of Abrdn Australia Equity Fund by 369.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 32,799 shares of the company’s stock valued at $154,000 after acquiring an additional 25,808 shares during the last quarter. Covenant Partners LLC bought a new position in Abrdn Australia Equity Fund during the 3rd quarter worth $52,000. International Assets Investment Management LLC bought a new position in Abrdn Australia Equity Fund during the 3rd quarter worth $137,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Abrdn Australia Equity Fund by 8.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,898,703 shares of the company’s stock worth $13,653,000 after acquiring an additional 223,926 shares during the period.

About Abrdn Australia Equity Fund

Abrdn Australia Equity Fund Inc is a closed ended equity mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. The fund is managed by Aberdeen Standard Investments Australia Limited. It invests in the public equity markets of Australia. The fund makes its investments in firms operating across diversified sectors.